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shipping container insurance
Overview

At Intercont, we understand the increasing complexities and risks associated with containerized shipping. Various unforeseeable factors or unpredictable circumstances can expose your cargo to risks during transit, creating an unfavorable or unnecessary financial strain on you or your customers even before you ship your cargo.

To avoid such situations, it's always advisable to subscribe to a protection policy to save some cash by protecting your interests in the event of such incidents.

However, not many opt for the correct insurance due to a lack of information, which leaves them exposed. Most shippers are either protected by standard container insurance, i.e., ITC-B (limited perils cover) or accidental damages cover only. However, what is left behind is the most critical aspect of your insurance segment – "Container Insurance" or usually referred to as Empty/Transit Container Insurance in layman's terms.

How is Container Insurance different?

Generally, the majority of shippers usually opt for standard insurance policies that cover them with limited liabilities or choose to skip to save some quick bucks. This leaves them in the cold when it comes to securing a claim that meets a "Container Accident."

Large volume containers presently in transit remain uninsured, and the risk is usually managed by their logistics partners based on their capacity, leaving it more open, compromised, and complicated in the event of unforeseen circumstances. This leaves shippers inadequately equipped for their container damage, loss, and claims.

Our best-in-class container transit insurance, Protect+ Plus showcases our deep experience and understanding of such scenarios, offering shippers, SMBs, and even large enterprises the ability to manage their exposing and developing risks.

Protect+ Plus Container [Transit] Insurance Advantages
True Container Insurance
True Container Insurance [Transit]

Covers all forms of potential risks toward the loss, damage of containers, including theft during origin transit, right from empty yard pick-up until the container is gated in at the port of loading, and claims against such events.

Broad Spectrum Cover
Broad Spectrum Cover

Unlike others, we cover all forms of dry and special containers, including Reefer Containers too.

10x Faster Claim Settlement
10x Faster Claim Settlement

Yes, you heard it right, the fastest ever, 10 Days claim settlement.

Convenient Subscription Models
Convenient Subscription Models

Freedom to choose from options that fit your needs - Ad-hoc (One-off cover), Pre-defined (Defined or Yearly) models to save you from minimum administration effort.

Wholesale & Flexible Pricing
Wholesale & Flexible Pricing

Our wholesale priced coverage ensures you get the best protection at an unbeatable price.

One-Stop Solution
One-Stop Solution

Always on your side with in-house representatives for subscription, claim handling, processing to reduce your administration effort.

Disclaimer:
^ is claimed considering average claim settlement time for conventional cargo claims by other competing companies, ICICI Lombard settles claims of up to Rs 5 Lakhs by MSMEs within 10 days.
# Loss, Damage of Containers is limited to [Physical Loss, Container Shell, Property Damage] during transit at origin only, intended for export movements within India; till the time it is in custody of customer.
~ Coverage is applicable to empty container’s [Container Shell] only & not cargo inside container.
* Charged per container basis for bookings made thought Intercont Freight Liners & billed per BL.

Protect+Plus Exclusive
  • Fire or Explosion.
  • Overturning or derailment of vehicle.
  • Damage repair and lost units.
  • Accidental Damage, Collision between 2 Vehicles.
  • Earthquake, Lightening or Volcanic Eruption during transit.
  • Theft / Impact Damage.
  • Theft or malicious damage.
  • Container or Equipment Loss.
  • Third-party liability.
Max Coverage
General Exclusions

The major exclusions under a Container Insurance Policy are as follows

  • Damage to the Cargo carried inside the Container is not Payable.
  • Damage Caused to the Container due to Willful Misconduct of the Assured.
  • Damage Caused to the Container due to Normal Wear and Tear, Gradual Deterioration, Corrosion or Rusting of the Container.
  • Loss or Damage Caused to the Container due to Capture or Seizure of the Container by Governmental Authorities.
  • Damage Caused to the Container due to Insolvency or Bankruptcy of the Transporter or Carrier.
  • Unfitness of carrying vehicle.
  • Demurrage Charges: Charges or Late Penalties.
  • Damage to Container whilst in Storage.
General Exclusions
Frequently asked questions

Don't let unanswered questions bring your quest for a perfect insurance to a halt. Browse our FAQs to get more clarity on our container insurance policy.

Q. What is difference between Protect + Plus and Protect + Pro

Protect+ Plus is Container [Transit] Insurance & Protect+ Pro is our flag ship Perishable Cargo Insurance.

Q. Is Container Insurance & Cargo Insurance mean the same?

Container insurance can also be confused with cargo insurance. And most often, these two terms are used interchangeably. To avoid the confusion, let’s distinguish the two for you. Container Insurance protects you from Loss, Damage of Containers is limited to [Physical Loss, Container Shell, Property Damage] during transit at origin only, intended for export movements within India; till the time it is in custody of customer. However, Cargo Insurance, protects your cargo inside the container from damage and not container.

Q. Does this policy also cover the “Cargo” inside the container?

Coverage is applicable to Empty Containers only, No content inside the container is covered

Q. How are the charges bill for above subscription?

Charged per container basis for bookings made thought Intercont Freight Liners & billed per BL.

Q. Does Detention Charges levied by Carriers for late return of container held for damage inspection covered?

Detention and Demurrage charges by lines of all types are out of scope of this proposal event if insured party retains container for damage inspection.

Q. Can Container Damage identified at ‘Port of Discharge’ can be claimed under this policy?

Container damages which will be identified at ‘Port of Discharge’ are excluded from the scope of this cover

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